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New Delhi: Eyewear retailer Lenskart Solutions Limited's valuation has increased to $10 billion, as its share price has reached Rs 510 apiece in the non-listed market. The company is preparing to launch its Initial Public Offer (IPO). The grey market is where the shares of companies are traded before they are officially listed on the stock exchanges. Lenskart's valuation stood at $5 billion in 2024. According to sources, the company can now maintain its new grey market valuation and list on the Indian stock market with a valuation of about 8-10 billion dollars.
In the grey market, Lenskart's shares have reached the rate of Rs 510 per share. Moneycontrol quoted sources as saying, “The company may file its Red Herring Prospectus (RHP) in the week of 22 October and is planning to be listed on stock exchanges before 12 November.”
Lenskart Solutions registered a net profit of Rs 297.3 crore in FY 2025, as against a loss of Rs 10.2 crore in FY25. With a compounding annual growth rate (CAGR) of 33 percent in the last two years, revenue also increased by 23 percent year-on-year to Rs 6,652.5 crore. Due to operational efficiency and scale, the gross margin has increased by more than 500 basis points to about 69 percent.
In its draft Red Herring Prospectus (DRHP), the company stated it has 2,723 stores, out of which 2,067 are in India and 656 are abroad. This growth is driven by acquisitions made in Japan and Europe. Approximately 60 percent of Lenskart's revenue comes from India and the rest from outside areas, which indicates the company's diversification in other geographical areas. The eyewear seller said that it is planning to add 450 stores in the current financial year, FY 2026, to increase its presence.
The company, which received regulatory approval for its IPO earlier this month, will raise new income of Rs 2,150 crore along with an offer for sale (OFS) of 13.2 crore shares by existing investors and promoters. In total, there will be an IPO of about Rs 8,000 million.
(Disclaimer: (Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.))
